CADJPY_2021-12-07 - H4

Tuesday, December 7, 2021 8:30 AM

The CADJPY currency pair can enter the downtrend after reaching the level of 89.70 and fall to the price of 87.75. Longer-run prospects remain supportive and we continue to feel that gains can extend towards the 95-100 range. Among the CAD crosses, the CAD/JPY looks very interesting after it formed a solid reversal hammer candlestick pattern on its weekly chart last week . Some traders are trying to put bullish bets on the Canadian dollar against the yen, after data on Wednesday showed strong growth in Canada's economy in November, he added.